The twin tower construction project that has been on hold for years in Da Nang

I have lived in Da Nang for the past 6 years. In that time I have seen so much construction taking place especially near the beach where I and most of the other foreigners that live here also live. There is so much construction that it seems that no matter where you go something is being built on every available plot of land.

It doesn't make a great deal of sense to me that they keep building because according to Vietnamese friends of mine that work in the hospitality industry on this side of town keep telling me that they, and other already existing buildings meant for either hotel rooms or longer-term apartments really struggle to maintain a level of occupancy that can even pay the bills.

So why on earth would anyone want to build more of these when the ones that already exist aren't making any money? The world doesn't make a lot of sense to me.

These two monstrously huge buildings have been under construction ever since I first arrived here and from what I have seen there doesn't appear to be any work even being done on them. There is speculation that the project was put on hold when Covid shut down Vietnam and it just never started back up again. Who knows what the real reason is but the fact of the matter is that there is a new building going up on every imaginable plot of land here and the ones that exist operate at 20% occupancy.

Maybe this is just rich people doing rich people stuff that it is difficult for me to understand. There really isn't any sort of forward thinking as far as bringing even more tourists here nor is there any sort of big push to sell these units as timeshares. There also isn't any sort of viable long-term visa program here for any wealthy person that just wants to have a 2nd beachfront home in Vietnam.

For every completed building on the beach, there are 2 that are under construction. There is one particular building that is quite near my condo that has a massive crane on the roof of it that has been in the same position for over a year. A buddy of mine that worked as a foreman on large buildings said these machines are extremely expensive to rent or own so the fact that it would just be sitting there doing nothing is ludicrous.

I wonder if this is just some sort of money laundering scheme that is going on all up and down the beach because it really doesn't make sense. In a way that more people can understand it would be kind of like finding a street that has a half dozen coffeeshops on the street already, none of which are making any money... and then opening another coffeeshop on that same street. This is another real-world example of what goes on in DaNang as well. I don't know how many coffeeshops there are here, but there are likely thousands of them. I don't know of any that stay popular beyond the honeymoon period of a few months and in the 6 years that I have been here I have seen so many of them go out of business only to be replaced by..... (Drum roll) another coffee shop.... which also ends up failing.

I don't think they will ever be "finished" building on the beach here. For every building that goes up they build 2 more right next to it and from what I can tell and what I hear, nobody is making any money and there are tons of vacancies everywhere. I guess if there is a tourism explosion of sorts the city will definitely be prepared for it.